SCHEDULES
SCHEDULE 1Consequential amendments
Part 2Other enactments
Income Tax (Earnings and Pensions) Act 2003 (c. 1)
601
For section 496 (no charge on cash dividend retained for reinvestment) substitute—
“496No charge on cash dividend retained for reinvestment
For the exemption from income tax of amounts retained under paragraph 68(2) of Schedule 2 (amount of cash dividend not reinvested), see section 770 of ITTOIA 2005 (amounts applied by SIP trustees acquiring dividend shares or retained for reinvestment).”